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LG Electronics to convert Haiphong smartphone production line to home appliances 17:56 | 01/06/2021
LG Electronics will convert its smartphone production in Haiphong to produce home appliances
The move follows LG s decision to withdraw from the mobile business in April, according to
Yonhap newswire. Since then, LG has been actively relocating its mobile workforce and resources to its core home appliance segment in a bid to fully exit from its loss-making mobile division by July 31.
LG has witnessed surging demand for its premium appliances in light of the stay-at-home trend during the pandemic.
In April, LG Electronics Vietnam was reported to be looking for a buyer for its Haiphong smartphone factory for $90 million. However, at a meeting with leaders of the Ministry of Planning and Investment s Foreign Investment Agency, the company s leader refuted the news and stated that the LG Electronics factory in Haiphong will remain in operation.